Advanced Micro Devices, Inc. to Post Q2 2024 Earnings of $0.48 Per Share, Wedbush Forecasts (NASDAQ:AMD)

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Stock analysts at Wedbush lowered their Q2 2024 EPS estimates for shares of Advanced Micro Devices in a report issued on Wednesday, May 1st. Wedbush analyst M. Bryson now anticipates that the semiconductor manufacturer will post earnings per share of $0.48 for the quarter, down from their previous estimate of $0.57. Wedbush has a “Outperform” rating and a $200.00 price objective on the stock. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.59 per share. Wedbush also issued estimates for Advanced Micro Devices’ Q3 2024 earnings at $0.78 EPS, Q4 2024 earnings at $1.05 EPS, FY2024 earnings at $2.74 EPS, Q1 2025 earnings at $1.05 EPS, Q2 2025 earnings at $1.33 EPS, Q3 2025 earnings at $1.62 EPS and Q4 2025 earnings at $1.87 EPS.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 EPS.

A number of other analysts have also recently weighed in on the company. Melius Research raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Monday, January 8th. Melius upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Morgan Stanley cut their price target on shares of Advanced Micro Devices from $193.00 to $177.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Barclays increased their price objective on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Finally, Citigroup dropped their target price on Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $184.24.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $150.60 on Friday. Advanced Micro Devices has a 52-week low of $81.11 and a 52-week high of $227.30. The company has a quick ratio of 1.86, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $175.41 and a 200 day moving average price of $151.81. The firm has a market capitalization of $243.42 billion, a PE ratio of 221.47, a P/E/G ratio of 2.29 and a beta of 1.66.

Insider Activity

In other news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the transaction, the chief executive officer now owns 3,222,230 shares of the company’s stock, valued at approximately $628,753,739.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $195.13, for a total value of $24,391,250.00. Following the completion of the sale, the chief executive officer now owns 3,222,230 shares of the company’s stock, valued at approximately $628,753,739.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the transaction, the chief accounting officer now owns 4,209 shares in the company, valued at approximately $794,069.94. The disclosure for this sale can be found here. Insiders sold 181,850 shares of company stock worth $34,637,833 in the last quarter. 0.73% of the stock is owned by corporate insiders.

Institutional Trading of Advanced Micro Devices

Institutional investors have recently made changes to their positions in the company. Addison Advisors LLC lifted its stake in Advanced Micro Devices by 41.9% in the fourth quarter. Addison Advisors LLC now owns 210 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 62 shares during the last quarter. Prentice Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 1.6% in the first quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock valued at $711,000 after buying an additional 62 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Advanced Micro Devices by 0.9% during the 1st quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock valued at $1,314,000 after buying an additional 63 shares during the last quarter. Schear Investment Advisers LLC grew its stake in shares of Advanced Micro Devices by 0.4% during the 4th quarter. Schear Investment Advisers LLC now owns 15,762 shares of the semiconductor manufacturer’s stock worth $2,323,000 after acquiring an additional 64 shares during the period. Finally, Fiduciary Group LLC increased its holdings in Advanced Micro Devices by 2.7% in the 4th quarter. Fiduciary Group LLC now owns 2,516 shares of the semiconductor manufacturer’s stock worth $371,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.